Over the last 30 years, wealth in the United States has been steadily concentrating in the upper economic echelons. Whereas the top 1 percent used to control a little over 30 percent of the wealth, they now control 40 percent.

The Bakken boom has inspired a number of prominent commentators to resurrect the energy independence meme. Daniel Yergin was first at bat, asserting in an essay published by The Wall Street Journal that rising prices and emerging technologies (especi

Yesterday when gold was trading in the $1570 we suggested that based on the very volatile shifts in the funding environment for gold, whereby the gold lease rate had moved from record negative to borderline flat, the plunge in the yellow metal is lik

So with just a 3 years delay, the SEC has finally put down the porn channel remote, and decided to do what it should have done back in 2008, which is to sue the former heads of Fannie and Freddie for "misleading investors about risky mortgages" in th

Daniel Mudd, the former chief executive officer of Fannie Mae, and Richard Syron, ex-CEO of Freddie Mac, were sued by the U.S. Securities and Exchange Commission for understating by hundreds of billions of dollars the subprime loans held by the agenc

IMF boss says no country in the world is immune from the crisis and all must take steps to boost growth, with risks of inaction including 'isolation and other elements reminiscent of the 1930s depression'.

Squeezed by rising living costs, a record number of Americans — nearly 1 in 2 — have fallen into poverty or are scraping by on earnings that classify them as low income.
The latest census data depict a middle class that’s shrinking as unemployment

Why MF Global Went Down - We've Crossed the Rubicon, American citizens have no more rights, says Eric Peters - The Nazis Used Them, the Soviets Used Them - Q: What Is the Cure for a Depression? A: A depression, says Bill Bonner

Boeing and Southwest Airlines announced yesterday a firm order for 150 fuel-efficient 737 MAX airplanes. Southwest is the first customer to finalize an order for the 737 MAX and becomes the launch customer for the new-engine variant.

Regulators now have a more complete picture of money transfers in the final days of bankrupt brokerage MF Global, but must sort out which transactions were legitimate before more money can be released to customers, a top official told Reuters on Wedn

The proprietor of a bar in Dublin. She realises that virtually all of her customers are unemployed alcoholics and, as such, can no longer afford to patronise her bar – she will go broke. To solve this problem, she comes up with a new marketing plan

After he put money into the savings account from his job, Daniel Ganziano's balance eventually fell to $4.85 and with such a small amount, he ignored it.
However, TCF sent him a letter on Oct. 12 informing him that it had charged him a $9.95 month

Millions of young Americans are enslaved to student loan debt for the rest of their lives. They were promised a bright future, but instead most of them are discovering that they are going to be working really hard to pay off financial predators for

The single currency has lost ground rapidly since it became clear Europe has no grand plan to stop the sovereign debt crisis. It tumbled Tuesday to the 1.30 range, its lowest level in 11 months and a key technical zone.

And Ann, you were a commodity broker for eight years and then you formed your own independent brokerage for six years. A couple of weeks ago you made the painful decision to shut your doors because you felt your clients’ money and positions were no l

Data on sales of previously owned U.S. homes from 2007 through October this year will be revised down next week because of double counting, indicating a much weaker housing market than previously thought.

Ever wonder how to explain Austrian economic theory in the context of a backyard barbecue? Thomas Ryan explains it in his presentation to the PPEC, recorded live on 12/06/11. (The main presentation starts at 12:46 into the event.)

Billionaire market speculator and philanthropist George Soros bought about $2 billion worth of European bonds from now-bankrupt MF Global — the same debt that pushed the firm to collapse, according to The Wall Street Journal.

Dealbook reported that when Jon Corzine visited MF Global's Chicago office shortly after becoming CEO in 2010, discovering that a young trader was successfully using a small account to trade the firm's capital, he was enthralled.